• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

Technologies.org

Technology Trends: Follow the Money

  • Technology Events 2023-2024
  • Sponsored Post
    • Make a Contribution
  • Technology Markets
    • Venture Capital
  • About
  • Contact

Rapyd Secures $40 Million in Series B Funding: Fintech-as-a-Service Platform Digitally Enables Local Payments and Cross-Border Transactions, Opening Access to More than 2 Billion Consumers

February 13, 2019 By admin Leave a Comment

Rapyd, a global fintech-as-a-service platform that enables businesses and consumers to pay or be paid however they choose, using any payment method or cash for local and cross-border e-commerce, today announced a $40 million series B financing round led by General Catalyst and Stripe, with participation from Target Global, IGNIA and other strategic payments and fintech companies.

With this investment, Rapyd will expand its technology platform that supports any local or cross-border commerce use case requiring local payments, such as bank transfers, e-wallets, and cash for local acceptance and payouts. Rapyd addresses a significant and growing market opportunity as more than half of all transactions worldwide are facilitated via bank transfer, but merchants find it increasingly difficult to digitally enable local payment methods and process cross-border sales that are critical for international expansion.

“We’re excited to work with our new partners General Catalyst, Stripe, Target Global, IGNIA, and others, who today join our earlier investors including seed and series A lead TaL Capital. This marks a critical inflection point in our evolution as a company and at a time when market demand for our fintech-as-a-service platform approach is accelerating,” said Arik Shtilman, Co-founder and CEO of Rapyd.

“Rapyd’s product offering helps merchants, banks, telcos and fintech companies expand the scope of the products they offer, increase the number of customers they reach, and improve the overall customer experience,” said Adam Valkin, Partner of General Catalyst. “Rapyd does this by helping drive the ubiquity of payment and payout options beyond debit and credit cards, towards cash, bank transfers, instant payments, e-wallets, and mobile money.”

“As global commerce continues to grow, the market opportunity for online merchants, the gig economy, online lenders and banks looking to provide access to funds instantly, is constrained due to the challenges of accepting and making local payment methods and cash transactions,” added Shtilman. “Rapyd helps businesses and their customers pay and be paid however they choose by seamlessly integrating any local payment method or cash to run any digital application from a single API.”

“Rapyd is a rare example of a unique solution allowing merchants and banks that work globally to be able to access hundreds of payment methods with one integration around the world. This ensures access to services for those who are most in need so that they can pay the way they are used to rather than being obliged to use the existing rails of card schemes,” noted Mike Lobanov, General Partner of Target Global. “We see the future in seamless payments with more and more transactions happening inside closed ecosystems through e-wallets. The global economy needs a modernized infrastructure which Rapyd is building.”

“Early on we saw and backed Rapyd’s vision to fundamentally re-think how financial management, money movement, and payment services could be delivered through a cloud computing model through a single technology stack. By removing the complexity and difficulty of managing geographic expansion, regulations, and new features businesses can focus on building the best fintech applications without worrying about backend systems that work on a global scale,” noted Eyal Dior, co-Managing Partner at TaL Capital. “We were pleased to lead Rapyd’s seed round and to co-lead their Series A funding. It is great to see market and investor acceptance of their Fintech-as-a-service vision.”

In addition to enabling local payments Rapyd also provides (1) Single Point of Reconciliation and Settlement of all funds across 65 currencies and the ability to payout in over 170 countries, (2) Advanced real-time foreign exchange services, that on average, provide a lower cost to clients and their consumers, and are more profitable, due to advanced FX hedging technology, and (3) Comprehensive global Know Your Customer (KYC), Anti-Money Laundering (AML)/Counter Financing Terrorism (CFT) services.

About Rapyd
Rapyd provides a fintech-as-a-service platform that helps businesses and their customers pay and be paid however they choose. The Rapyd platform supports any payment method for in-country or cross-border commerce use cases. Businesses can seamlessly integrate payment methods like bank transfers, e-wallets, or cash into any digital application from a single API and scale them globally across multiple payments networks. Rapyd operates the world’s largest local payments network that connects to over 2B+ consumers transacting around the corner and across the globe. For more: www.rapyd.net.

Filed Under: Tech

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Market Analysis

The Future of Food: Top Trends to Watch in 2023 and Beyond
How to discover the treasure trove of hidden marketing insights by watching customer behavior
Navigating Uncertainty: Prioritizing Hydrogen R&D Efforts for a Sustainable Future
Unleashing the Hidden Talent Pool: The Rise of STARs – Skilled Through Alternative Routes
United Against China: Japan and the Netherlands to Join US in Restricting Semiconductor Exports
Revolutionizing Agriculture: How CRISPR is Changing the Game
The ticking time bomb: Understanding the demographic challenges facing our planet

Market Research Media

Turn Your Story into a Game: The Art of Gamifying Your Plot
The end of cheap money is redrawing the map of corporate earnings
The Future of Virtual Reality: How VR is Changing Industries
Market Research Media Survey: The State of Streaming Services
Media measurement services provide a holistic view of cross-media consumption
Gen Z ranks top in luxury sales
How to market recycled products

Secondary Sidebar

Tech Events

Chiplet Summit, January 24-26 2023, the Doubletree by Hilton San Jose Hotel
Flagship Community Conference for the Leading Open Source Browser Automation Standard Returns to In-person Event in Chicago, March 28-30, 2023
The 2nd annual Connecting Green Hydrogen Europe 2023 will Take Place 5th – 6th July 2023 at Riu Plaza España Madrid, Spain
DesignCon, the nation’s must-attend event for chip, board and systems design engineers, Jan. 31- Feb. 2 2023, Santa Clara Convention Center
Chiplet Summit, January 24-26, 2023, Doubletree by Hilton, San Jose

Venture Capital

The Importance of Diversity and Inclusion in the Workplace
Sequoia Capital announces its $195 Mln dedicated seed fund
Sublime Systems Secures $40 Million Series A to Electrify and Scale Decarbonized Cement Production
actyv.ai Raises Pre-Series A Funding to Fuel Global Expansion, Product Enhancement
Ottopia announces $14.5M Series A Funding Round

Footer

Recent Posts

  • 5G is the New Cyber Attack Surface: Understanding the Risks and Opportunities
  • The Evolution of the Skateboard
  • How can we clean space junk?
  • How Electric Vehicles (EV) Are Changing the Automotive Industry
  • Scientists are looking for intelligent alien life
  • The Rise of Quantum Computing: Understanding the Basics and its Potential Impact
  • The Future of Automation: How Robotics and Artificial Intelligence are Changing the Landscape of Industry
  • The Rise of Edge Computing: How It’s Changing the Way We Process Data
  • The Future of Virtual Reality: A Look at the Latest Developments
  • Tech Summit 2023 has been a huge success

App Coding

monday.com Adds Built-In Monetization Solution to the apps marketplace
New app to help northeastern Illinois drivers avoid traffic and earn rewards for improving their commute
Browser innovation has stalled
How to teach yourself app coding
Ondat 2.8 Arrives in GA with Increased Support for Stateful Workloads in Kubernetes

API Coding

Profound Logic Builds IBM i Salesforce API Integration Example without Writing a Single Line of Code
Neosec Introduces Industry First Expert Managed Threat Hunting Service for Detecting and Investigating API Abuse and Vulnerabilities
What is a REST API?
How to code an API with ChatGPT
DataGrail Launches API & Agent to Automate DSR Fulfillment Across All Internal Data Systems, Saving Companies Weeks of Engineering Time

Blockchaining

Are blockchain transactions traceable?
What are DLT ledgers?
What is a blockchain domain?
Blockchain Technology: Ownership Through Equity Tokenization
What is NFT?

Event Calendar

NAHB International Builders’ Show (IBS 2023) in Las Vegas from January 31 to February 2, 2023
India’s largest biennial automobile exhibition Auto Expo 2023 held on January 12-15, 2023 at Pragati Maidan, New Delhi
NRF 2023, Retail’s Big Show and Expo, January 15 to 17, 2023, Jacob K. Javits Center, New York
DOMOTEX Hannover 2023′ in Germany from 12-15 January
Electrify Expo Austin Set to Be Largest EV Demo Event of the 2022 Season, November 12-13, 2022, Austin, Texas

Copyright © 2022 Technologies.org

Media Partners: Market Analysis & Market Research and Exclusive Domains

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT